Monday 11 November 2013

Commodity Market Update (Gold)

Precious Metals are trading in a tight range with Gold trading at 1281.20, lower by 0.23% and Silver is down by 0.06% at 21.03 an ounce. The near term outlook remains negative and expect prices to drift lower in the following sessions. Crude Oil futures on NYM are also trading down with a decline of 0.33% at 94.64, prices are likely to extend its downward move in coming hours. Natural Gas is trading flat with a marginal gain of just 0.08% at 3.56. Base Metals on LME are trading mix with nominal changes, Copper is at 7185.0, +0.37% and Nickel is at 13954.0, higher by 0.40% as we write this. Other three metals are trading slightly lower today. Intraday bias remains neutral for base metals.
US Bank is closed today in observance of Veterans Day.

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